Fund Evaluator:
Emerald Growth Investor (FFGRX)
Follow This Fund
Best Performing in Small Growth Over the Last Year
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| 72.6% | Emerald Growth Investor (FFGRX) |
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Fund Details
Emerald Growth Investor Overview
Emerald Growth Investor (FFGRX) is an actively managed U.S. Equity Small Growth fund. Emerald launched the fund in 2011.
The investment seeks long-term growth through capital appreciation. Under normal conditions, the fund typically invests in equity securities of U.S. and foreign companies, including common stocks, preferred stocks, and securities convertible into common or preferred stocks. It can invest in companies from a wide range of industries and of various sizes. This includes smaller companies, which are defined by the Adviser as those having a market capitalization equal to or less than that of the largest companies in the Russell 2000 Index.
About Emerald Growth Investor (FFGRX)
There are 3 members of the management team with an average tenure of 26.13 years: Joseph Garner (2006), Stacey Sears (2002), Kenneth Mertz (1992). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Russell 3000 TR USD index with a weighting of 100% and Russell 2000 Growth TR USD index with a weighting of 100%. Emerald Growth Investor has 130 securities in its portfolio. The top 10 holdings constitute 25.6% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Emerald Growth Investor is part of the Equity global asset class and is within the U.S. Equity fund group. Emerald Growth Investor has 0.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 97.9%. There is 0.2% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.1% (0.1% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Emerald Growth Investor has 1.8% of the portfolio in cash.
Assets Under Management
The fund has $122 million in total assets, which is below the $454 million average for the Small Growth category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
FFGRX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Emerald Growth Investor expense ratio is high compared to funds in the Small Growth category. Emerald Growth Investor has an expense ratio of 1.13%, which is 4% lower than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Emerald Growth Investor has a portfolio turnover rate of 45%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 76% for the Small Growth category.
Recently, in the month of June 2026, Emerald Growth Investor returned 10.6%, which earned it a grade of A, as the Small Growth category had an average return of 6.5%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Emerald Growth Investor has a trailing yield of 0.00%, which is below the 0.07% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Emerald Growth Investor Grades
Year to date, the fund has returned 38.1%, 16.0 percentage points better than the category, which translates into a grade of A. The fund has returned 72.6% over the past year (grade of A), 31.4% over the past three years (grade of A) and 13.4% per year over the past five years (grade of A) and 16.5% per year over the past 10 years (grade of A).
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FFGRX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| FFGRX Return (NAV) | 10.6% | 39.1% | 72.6% | 31.4% | 13.4% | 16.5% |
| FFGRX Grade | A | A | A | A | A | A |
| +/- Category | 4.2% | 14.4% | 38.9% | 15.0% | 8.8% | 3.9% |
| Small Growth Avg | 6.5% | 24.7% | 33.7% | 16.4% | 4.6% | 12.5% |
| FFGRX Tax Cost Ratio | na | na | 3.1% | 2.8% | 3.0% | 2.0% |
FFGRX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| FFGRX Return (NAV) | 38.1% | 31.4% | 19.0% | 18.6% | -24.8% | 3.7% | 38.3% | 28.3% | -11.9% | 27.7% | 10.5% |
| FFGRX Grade | A | A | B | B | B | D | C | C | F | B | C |
| +/- Category | 16.0% | 23.4% | 3.5% | 1.9% | 3.2% | -6.8% | -3.5% | -1.6% | -7.8% | 3.6% | 0.3% |
| Small Growth Avg | 22.1% | 8.0% | 15.5% | 16.7% | -27.9% | 10.5% | 41.8% | 29.9% | -4.1% | 24.1% | 10.2% |
| Risk Measures | |
| Standard Deviation: | 23.7% |
| Total Risk Index: | 1.95 - High |
| Category Risk Index: | 1.19 - High |
| Category Risk Grade: | F (94% Rank) |
| Beta: | 1.58 |
| R-Squared: | 76% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Small-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 0.0% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $1645 Mil |
| Fund Total Assets: | $ 122 Mil |
| Share Class Type: | Inv |
| Portfolio Turnover: | 45% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 33.8 years | |||
| Average Tenure: 26.1 years | |||
| Managers (Year): Mertz Kenneth (1992), Sears Stacey (2002), Garner Joseph (2006) | |||
Portfolio Composition (as of 4/30/26)
| # of Holdings: | 130 |
| % in Top 10 Holdings: | 25.6% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.2% |
Portfolio Allocation |
|
| Domestic Stock: | 97.9% |
| Foreign Stock: | 0.2% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.1% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.8% |
Purchase Information
| Fund Family: | Emerald |
| Phone Number: | 855-828-9909 |
| Website: | www.emeraldmutualfunds.com |
| Status: | Open |
| Inception Date: | May 2, 2011 |
| Min. Initial Purchase: | $2,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 1.13% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.18% |
| Share Class: | Emerald Growth A |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 0 |
